Britain could become the first major economy to tighten monetary policy since the 2008 financial crisis, Bank of England governor Mark Carney has signalled, sending sterling shooting towards a five-year high against the dollar yesterday.
Britain's banking regulator has relaxed a new rule determining the quality of assets banks must hold to cover risks from pension liabilities.
The Bank of England's Prudential Regulation Authority (PRA) had proposed that al
British manufacturing grew much more strongly than expected in June, suggesting the country's recovery is broadening just as the Bank of England prepares to set out its plan for steering the economy back to health.
The Bank of England warned banks and borrowers on Wednesday they may be vulnerable if there is an abrupt rise in global interest rates which could require lenders to bolster their capital cushions again.
Global bond yields have ju
Bank of England (BoE) governor Mervyn King, making probably his final public comments before retiring, accused British banks of lobbying senior politicians to undermine a new system of financial regulation.
King said some banks ha
Bank of England (BoE) deputy governor Paul Tucker, beaten to the central bank's top job by Mark Carney, will stand down later this year, giving the Canadian an early chance to help reshape the BoE's upper echelons.
British manufacturers are increasingly turning away from external funding to grow their businesses, a survey has found, despite tentative signs that the cost of credit is easing.
Nearly 52 per cent of companies polled by manufactu
Sterling hit a two-and-a-half year low against the dollar and a 16-month trough against the euro on Monday after ratings agency Moody's stripped the UK of one of its prized triple-A ratings, rounding off a week of woe for the currency.
The Bank of England launched a third round of monetary stimulus today, announcing it would restart its printing presses and buy 50 billion pounds of asset purchases with newly created money to help the economy out of recession.
The move wa
Britain fell deeper into recession than initially thought in the first quarter of 2012 due to a slump in construction output, raising the likelihood that the Bank of England will opt to inject more stimulus to protect the economy from the euro zon